Leases

3 Months Ended

Jun. 28, 2020

Leases [Abstract]

Lessee, Operating Leases [Text Block]

Leases

Lease Obligations. As of June 28, 2020, we were obligated under operating lease agreements for certain manufacturing facilities, warehouse space, the land on which some of our facilities sit, vehicles and information technology equipment. Our leases have remaining lease terms of 1 year to 24 years, some of which include options to extend the lease for up to 10 years.

As of June 28, 2020, our operating lease components with initial or remaining terms in excess of one year were classified on the condensed consolidated balance sheet within right of use assets, short-term lease liability and long-term lease liability.

Expense for leases less than 12 months for the three months ended June 28, 2020 was not material. Total lease expense was $0.7 million for the three months ended June 28, 2020 and June 30, 2019.

Other information related to our operating leases was as follows:

	June 28, 2020
Lease Term and Discount Rate
Weighted average remaining lease term (years)	8.67
Weighted average discount rate	4.0	%

Maturities of lease liabilities as of June 28, 2020 were as follows:

(In thousands)	Operating Leases
Remaining fiscal 2021	$	1,727
Fiscal 2022	1,547
Fiscal 2023	1,297
Fiscal 2024	1,119
Fiscal 2025	1,126
Thereafter	3,838
Total	$	10,654
Less: Interest	(1,855)
Present value of lease liabilities	$	8,799